On February 6, Honeywell announced it would be splitting its operations in aerospace and home automation. It had previously indicated it would be spinning out its advanced materials business. The total split was prompted by an activist position taken by Elliott Investment Management in November of last year.

Honeywell employs 97,000 people worldwide, including 1,150 in Charlotte, Leopold said. Honeywell moved its global headquarters to Charlotte in 2018. It’s too soon to say how many employees will remain in Charlotte, Leopold said, but the restructuring is expected to create more jobs across all locations.

Honeywell said on Thursday it will split into three independently listed companies, breaking up one of America's last standing conglomerates just months after activist investor Elliott Management took a $5 billion stake in the industrial giant.

Honeywell will split into three separate businesses, starting with Advanced Materials in late 2025, followed by Honeywell Automation and Aerospace in late 2026.

Honeywell plans to separate its automation and aerospace technologies businesses from the U.S. industrial conglomerate, following similar actions by companies such as General Electric and Alcoa.

Honeywell, one of the last remaining American industrial giants, announced it will split into three companies Thursday after investor pressure.

An activist investor's dream scenario has come to fruition with Honeywell's decision to break up the company. Here's how it will affect workers in Phoenix.